Macy’s, Inc. Appoints Naveen Chopra to Board of Directors
24 March 2023 - 7:15AM
Business Wire
Appointment Enhances Board’s Expertise Across
Finance, Digital and Innovation
Macy’s, Inc. (NYSE: M) today announced the appointment of Naveen
Chopra, executive vice president and chief financial officer of
Paramount Global, to its board of directors, effective April 1,
2023.
Chopra is an established financial and operational leader who
has served as chief financial officer for several high-growth,
innovative companies over the past 20 years. In his current role,
Chopra oversees Paramount Global’s financial operations and global
corporate development and strategy. Previously, Chopra was chief
financial officer of Amazon’s Devices and Services Business,
responsible for some of Amazon’s fastest growing and most strategic
consumer businesses including Alexa and Echo, FireTV, Ring, Kindle
and the Amazon Appstore. Chopra has also successfully executed
corporate transformations, including while as chief financial
officer of both Pandora Media and TiVo Corporation.
“Naveen brings impressive experience at the intersection of
digital innovation and financial growth to our board,” said Jeff
Gennette, chairman and chief executive officer of Macy’s, Inc. “His
career as a CFO spans consumer, technology and media companies, and
we are confident his insights will be highly relevant to us as we
build on our position as a digitally led, modern department store.
We look forward to his contributions to our board.”
“Macy’s, Inc. has reimagined how consumers engage with its
Macy’s, Bloomingdale’s and Bluemercury brands and I am energized to
join the board at a time when the enterprise is poised for future
growth,” said Chopra.
The company today also announced that John Bryant and Leslie
Hale, both of whom have served on the board since 2015, will not
stand for re-election to the board at the company’s 2023 annual
meeting. Both have served as members and leaders of the Audit and
Finance Committees during their tenure – Bryant has chaired the
Audit Committee since 2016 while Hale has served as Finance
Committee chair since 2022.
Paul Varga, Macy’s, Inc. lead independent director, said, “On
behalf of my fellow directors, I want to express our appreciation
to Leslie and John for their meaningful contributions to Macy’s,
Inc.’s success over the past eight years. The composition and
diversity of the board reflects Macy’s, Inc.’s commitment to
best-in-class corporate governance. We are confident that Naveen’s
unique skillset will be a strong complement to our board as the
company continues to focus on strengthening its foundation for
sustainable, long-term, profitable sales growth.”
Following the 2023 annual meeting, the Macy’s, Inc. board will
be comprised of 13 members, 12 of whom are independent and
continues to represent a diverse range of ages, experiences, skills
and ethnicities. Chopra will serve on the Audit and Finance
Committees.
About Naveen Chopra
Naveen Chopra, 49, is the executive vice president and chief
financial officer at Paramount Global. Prior to joining ViacomCBS
in 2020, Chopra served as vice president and chief financial
officer of Amazon’s Devices and Services Business. From 2017 to
2019, he served as chief financial officer at Pandora Media,
helping to lead a major corporate turn-around, and held the role of
interim CEO in 2017. Chopra held various roles at TiVo Corporation
from 2003 to 2016, including chief financial officer and interim
CEO where he guided the company through multiple phases of growth
and transformation. Earlier in his career, Chopra held business
development roles at both large enterprises like Microsoft and
Hewlett Packard and early-stage venture-backed companies including
WebTV, Ofoto, and Rearden Steel. He earned bachelor’s degrees in
computer science and economics from Stanford and an MBA from the
Stanford Graduate School of Business. Chopra is also a champion of
Diversity, Equity and Inclusion and established Paramount Global’s
Finance Diversity Working Group and Sponsorship program.
About Macy’s, Inc.
At Macy’s, Inc. (NYSE: M), we are a trusted source for quality
brands at great values from off-price to luxury. Across our iconic
nameplates, including Macy’s, Bloomingdale’s and Bluemercury, we
help our customers express their unique style and celebrate special
moments, big and small. Headquartered in New York City, we operate
one of retail’s largest e-commerce businesses integrated with a
nationwide footprint to deliver the most convenient and seamless
shopping experience. Our purpose is to create a brighter future
with bold representation – so we can realize the full potential of
every one of us. For more information, visit macysinc.com.
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Media – Chris Grams communications@macys.com
Investors – Pamela Quintiliano investors@macys.com
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